EIT Digital Challenge: OptioPay named Best Digital Finance Scaleup

EIT Digital has named OptioPay as the best European technology scaleup in the field of Digital Finance in 2017

Berlin-based OptioPay revolutionises the way people receive money as they enable customers to exchange payments into beneficial payout options such as higher value gift vouchers

The technology company OptioPay has been awarded first prize in the annual EIT Digital Challenge in the category Digital Finance. The Berlin based company aims to revolutionise the way people receive money by providing a platform that enables businesses to offer beneficial payout options such as higher-value gift vouchers or discounted products to their clients as an attractive payout method.

The prize includes a €50,000 cash prize and full year international growth support by the EIT Digital Accelerator worth an additional €50,000.

"The EIT Digital Challenge aims to detect Europe's best digital technology scaleups that promise to improve the life of Europe's citizens and strengthen the economy,” explains Dominik Krabbe, EIT Digital Challenge Lead. “OptioPay creates a win-win-win situation for participating issuers, partner businesses such as retailers and of course recipients. With the EIT Digital Accelerator, we will now support OptioPay to expand internationally and make the benefit available to more people and businesses in Europe and beyond."

The payment solution software gives users the flexibility to receive their payments with multiple payment options, such as pre-paid vouchers from retailers for reimbursements, thus increasing customer satisfaction and the revenue of participating businesses. OptioPay addresses sectors such as banking, insurance, utilities, e-commerce and HR departments.

“The OptioPay team consists of more than 50 people with over 20 different nationalities. Therefore, globalization is part of our DNA”, says Oliver Oster, Co-founder and COO of OptioPay. “Payments are made everywhere in the world. So far, we have focused primarily on the German market, and now we plan to target the Netherlands, UK, Spain and Austria. We look forward to working with the EIT Digital Accelerator as the international team will support us to adjust our offer to local conditions and make crucial business contacts.”

The EIT Digital Accelerator comprises a team of experienced business developers and fundraising experts. They operate from 13 cities across Europe as well as a hub in San Francisco. Since 2012, they have supported more than 260 startups in accessing new markets and helped them raise more than €90 million in investment to date.

In total, five digital technology companies from across Europe competed in front of an international expert jury during the EIT Digital Innovation Day in Budapest, Hungary. The final was part of a series of five finals events of the EIT Digital Challenge, each dedicated to a specific digital technology topic. The other final events of the EIT Digital Challenge are: